Globant (NYSE:GLOB) Updates FY19 Earnings Guidance
Globant (NYSE:GLOB) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $2.19-$2.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.21. The company issued revenue guidance of $654-$660 million, compared to the consensus revenue estimate of $643.78 million.Globant also updated its FY 2019 guidance to $2.19-2.25 EPS.
Globant stock traded up $0.48 during mid-day trading on Thursday, hitting $101.11. 454,578 shares of the company traded hands, compared to its average volume of 297,303. Globant has a one year low of $46.30 and a one year high of $112.33. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 72.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69. The stock has a fifty day moving average price of $105.85 and a 200-day moving average price of $86.55.
GLOB has been the subject of several research analyst reports. Citigroup lowered shares of Globant from a buy rating to a neutral rating and lifted their target price for the company from $93.00 to $115.00 in a research report on Wednesday, July 17th. Zacks Investment Research lowered shares of Globant from a buy rating to a hold rating in a research report on Friday, August 9th. Itau BBA Securities upgraded shares of Globant from a market perform rating to an outperform rating and lifted their target price for the company from $74.00 to $113.00 in a research report on Friday, June 21st. Finally, Wedbush reiterated an outperform rating and set a $90.00 target price (up from $75.00) on shares of Globant in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Globant currently has an average rating of Buy and a consensus price target of $88.00.
Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.
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